Soybeans Higher at Midday

Soybean futures are showing 6 to 7 cent gains the front months on Friday, with soon to expire Aug 1 1/4 higher. August soybean meal is up 60 cents/ton, with soy oil 64 points higher. As of August 1, US total soybean export commitments are a robust 106 % of the USDA projected total, with the 5-year average at 104%. Accumulated shipments from the Export Sales report are 91% of that projection vs. the normal 95% pace. Trade estimates for Monday’s WASDE report on average have world old crop ending stocks for soybeans at 112.98 MMT and new crop at 104.53 MMT.

AUG 19 Soybeans are at $8.66 1/4, up 1 1/4 cents,

SEP 19 Soybeans are at $8.76 1/2, up 6 1/4 cents,

NOV 19 Soybeans are at $8.89 1/4, up 6 1/4 cents,

JAN 20 Soybeans are at $9.02 1/4, up 6 1/4 cents,

AUG 19 Soybean Meal is at $295.40, up $0.60,

AUG 19 Soybean Oil is at $29.60, up $0.64

--provided by Brugler Marketing & Management

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